$3 billion Cobaki project approved

Written on the 7 December 2010

A $3 billion master-planned community at Cobaki on the New South Wales-Queensland border was rubber stamped today by the NSW Minister for Planning Tony Kelly.

When complete, Leda Development’s satellite township will be home to around 12,000 residents. Nestled between the Tweed Hinterland and the Gold Coast’s Kirra and Greenmount beaches, the 594-hectare site will link the Gold Coast Highway at Tugun and the Tweed hinterland via the 4 km Cobaki Parkway across Cobaki Creek.

A key feature of the approved concept plan is a central recreational and environmental park almost 3 km in length, providing natural and formal sporting features that are accessible to all individual residential precincts.

A town centre based around a full-line shopping centre with medical and child-care facilities, cafes, tavern and commercial space will complement two state schools which will cater for the population growth earmarked by the NSW Government and Tweed Shire Council. The site has been zoned for development in the Tweed Shire’s Local Environment Plan for almost 30 years.

Leda Holdings’ executive chairman Bob Ell, says the approval finally acknowledges a vision for the area that is focused on ‘community needs and expectations’.

“The site has been earmarked for development since the 1980s. As it has remained dormant for that time, there’s been a lot of speculation about its future,” he says.
“Today’s approval gives the green light to a community positioned between the Tweed’s hinterland and iconic beaches that will be attractive to families in the Gold Coast -Tweed region through its proximity to the Tugun Bypass and Gold Coast Highway.”

A full spectrum of residential products will establish Cobaki as a diverse community, with plans for spacious elevated home sites through to medium density living around the central town centre and sports fields. Retirement living is also planned at a convenient yet respectful distance from the activity of the town centre.

Leda Developments is part of the Leda Holdings property group, which has an extensive development and investment portfolio worth throughout Australia. The Cobaki master planned community will become a signature residential development alongside the Leda’s more traditional commercial projects such as St Leonard’s Corporate Centre; the Rydalmere Metro Centre and the Logan Hyperdome on the northern Gold Coast.

The master-planned community will also:

• Provide an additional 100ha of land for conservation and environmental remediation;
• Include over 30 ha of sports fields and parklands;
• Be only a five minute drive to the Gold Coast International Airport, and 40 minutes to Byron Bay;
• Generate $15 million in developer contributions annually;
• Average $200 million per year in the value of construction.